Significant glass wool manufacturing capacity is operating in Hungary again after 20 years

The development of the Szerencs glass wool factory, built within the strategic collaboration of Masterplast and Selena, has entered a new phase. The investment has by now reached a stable level of production, with monthly output already exceeding 1,000 tonnes. Masterwool glass wool, manufactured in Hungary to European quality standards, has already appeared on several export markets. The investment is an important milestone in strengthening domestic glass wool manufacturing. From the outset, Masterplast's aim has been to produce modern, European-quality thermal insulation materials for the Hungarian and regional markets, with a domestic manufacturing background and stable security of supply. The development of the Szerencs factory fits well into Masterplast's strategy, which is built on strengthening its own manufacturing capacities, producing higher value-added products, and serving regional markets.

"The development of the Szerencs factory shows well that there is still a place in Hungary for industrial investments representing high added value. We are proud that, after almost twenty years, significant glass wool manufacturing capacity is operating in the country once again, serving not only the domestic but also the regional markets." – Tibor Dávid, Chairman and CEO of Masterplast Nyrt.

An expanding product portfolio to serve growing market demand

The development of the Masterwool brand is not only visible in the growth of manufacturing volume. Alongside its rolled glass wool products, the company is expanding its range with slab products as well, in order to serve modern construction and renovation needs more widely. The Masterplast group has been a defining player in the market for EPS and XPS thermal insulation materials for many years with its Hungarocell and Isomaster product families. This is complemented by Masterwool glass wool from the Szerencs factory, produced in-house with a bio-based binder and a significant recycled glass content. The company therefore offers complete thermal insulation solutions across a wide range of detached house, apartment building and industrial investments. Its aim is to serve the needs of the Hungarian and regional markets with the widest possible product range and its own manufacturing background on the insulation market.

Energy efficiency: growing social and economic importance

The European Union's building energy targets, the modernisation of the building stock and energy efficiency expectations provide a defining demand background for thermal insulation materials over the long term as well. Proper thermal insulation is one of the fastest returning energy efficiency investments, one that simultaneously reduces households' energy consumption, moderates the country's dependence on energy imports and contributes to meeting climate protection targets. Masterplast expects that one of the most important market driving forces of the coming period may be energy efficiency programmes and measures encouraging building renovation.

"We trust that the new government will pay particular attention to supporting building energy modernisation. Improving the energy efficiency of residential buildings not only reduces families' utility burdens, but also represents a significant growth opportunity for the domestic construction industry and building material manufacturing. We consider it especially important to reactivate the EEOS (Energy Efficiency Obligation Scheme) and to launch energy efficiency renovation programmes as soon as possible. We are convinced that these could result in significant energy savings in the Hungarian building stock, while meaningfully stimulating domestic construction and building material manufacturing. The necessary manufacturing capacities are available. Masterplast is ready to take an active role in modernising the Hungarian building stock and in serving the energy efficiency programmes expected to come." – Tibor Dávid, Chairman and CEO of Masterplast Nyrt.

Hungarian manufacturing, regional presence

The products of the Szerencs factory have already appeared on export markets: shipments have been dispatched to Slovakia and Romania, while the company's market presence is continuously expanding on further markets in the region, including Serbia. Among future growth opportunities, the company looks with particular attention at the Ukrainian market, where reconstruction and energy efficiency investments are expected to create significant demand for modern thermal insulation materials. The strategic partner in the investment is the Warsaw-listed Selena Group, which has been a defining player in the Polish building material market for many years, and whose extensive network of regional market relationships also strengthens the sales opportunities for Szerencs glass wool. The company's aim is to play a defining role in the region's energy efficiency developments, building on domestic manufacturing, while also providing stable, competitive supply and modern insulation solutions for the domestic market.